U.S. Sen. Cory Gardner (R-Colo.) has introduced S. 3052, a bill to repeal the 12-percent federal excise tax (FET) on the sale of heavy-duty trucks and trailers.
The American Truck Dealers (ATD) says federal excise tax on commercial trucks and buses was originally imposed in 1917 to help pay for World War I. It has grown from 3 percent to 12 percent and adds $12,000 to $22,000 on the price of a new heavy-duty truck.
“This burdensome tax creates excessive costs that are passed on to truckers, who play an essential role in maintaining our nation’s economy,” states Sen. Gardner. “IRead the rest of this article by one of our favorite contributors who provide some of the best supply chain content in the industry.